In a column in The Huffington Post, Chairman and CEO of loanDepot Anthony Hsieh says “this year, a parent’s support could spell the difference between a healthy housing recovery and a potential tailspin.”
The Bank of Mom and Dad, as Hsieh calls it, has helped 75 percent of Millennial-age first-time buyers this past year, and 31 percent more parents expect to help their Millennial-age children buy a home in the next five years compared to previous years.
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